Blackstone Investing in $3 Billion of Africa Power Projects
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Blackstone Group LP, the world’s biggest buyout firm, plans to start investing in energy projects in Africa worth $3 billion amid increasing demand for power on the continent.
Blackstone plans to invest in the 360 to 480-megawatt Ruhudji hydropower plant in southern Tanzania through its Sithe Global Power LLP unit, David Foley, senior managing director of New York-based Blackstone, said yesterday in an interview in Kampala, the Ugandan capital. It will also invest in Rwanda’s 150-megawatt Ruzizi hydro project that will supply power to neighboring Burundi and the Democratic Republic of Congo.